First Majestic Silver (NYSE:AG) Shares Gap Down - Should You Sell?

First Majestic Silver Corp. (NYSE:AG - Get Free Report) TSE: FR gapped down before the market opened on Monday . The stock had previously closed at $6.47, but opened at $6.16. First Majestic Silver shares last traded at $6.14, with a volume of 2,080,001 shares traded.

Analyst Upgrades and Downgrades

Several analysts have weighed in on AG shares. Cormark upgraded shares of First Majestic Silver from a "hold" rating to a "moderate buy" rating in a research note on Friday, September 6th. HC Wainwright reiterated a "buy" rating and set a $8.50 target price on shares of First Majestic Silver in a research note on Friday, October 18th.

First Majestic Silver Trading Down 6.6 %

The stock has a market cap of $1.82 billion, a price-to-earnings ratio of -22.52 and a beta of 1.31. The company has a current ratio of 3.05, a quick ratio of 2.44 and a debt-to-equity ratio of 0.17. The company has a fifty day simple moving average of $6.42 and a 200-day simple moving average of $6.36.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last issued its quarterly earnings data on Thursday, November 7th. The mining company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.12). The business had revenue of $146.09 million for the quarter. First Majestic Silver had a negative net margin of 14.89% and a negative return on equity of 4.20%. On average, research analysts forecast that First Majestic Silver Corp. will post -0.13 earnings per share for the current fiscal year.

First Majestic Silver Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.0048 per share. The ex-dividend date is Friday, November 15th. This is a boost from First Majestic Silver's previous quarterly dividend of $0.00. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.32%. First Majestic Silver's dividend payout ratio (DPR) is presently -7.41%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Sage Advisors LLC bought a new stake in First Majestic Silver during the 3rd quarter worth about $112,000. Euro Pacific Asset Management LLC grew its position in shares of First Majestic Silver by 14.4% in the 3rd quarter. Euro Pacific Asset Management LLC now owns 41,211 shares of the mining company's stock valued at $251,000 after purchasing an additional 5,181 shares during the period. CIBC Asset Management Inc grew its position in shares of First Majestic Silver by 3.1% in the 3rd quarter. CIBC Asset Management Inc now owns 367,967 shares of the mining company's stock valued at $2,210,000 after purchasing an additional 11,198 shares during the period. Oxbow Advisors LLC grew its position in shares of First Majestic Silver by 25.6% in the 3rd quarter. Oxbow Advisors LLC now owns 43,676 shares of the mining company's stock valued at $262,000 after purchasing an additional 8,899 shares during the period. Finally, Van ECK Associates Corp grew its position in shares of First Majestic Silver by 2.7% in the 3rd quarter. Van ECK Associates Corp now owns 28,912,989 shares of the mining company's stock valued at $173,478,000 after purchasing an additional 764,790 shares during the period. 27.16% of the stock is owned by institutional investors.

About First Majestic Silver

First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver and gold production in North America. Its projects include the San Dimas mine covering an area of approximately 71,867 hectares located in Durango State, Mexico; the Santa Elena that covers an area of approximately 102,244 hectares located in Sonora State, México; and the La Encantada covering an area of approximately 4,076 hectares located in Coahuila State, México.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.